Robinhood Layer 2 integration fuels 14% Uniswap price jump

Uniswap [UNI] introduced that it has deployed v2, v3, v4, and UniswapX on the Robinhood Chain. This can be a Layer 2 constructed by Robinhood Crypto, with Uniswap serving because the automated market maker [AMM].

The launch is geared towards programmatic, automated, and AI-driven ecosystems. This information has helped UNI token costs climb by 14.2% up to now 24 hours, and the each day buying and selling quantity has spiked by 81%.

The broader crypto market has made a 2.3% bounce up to now 24 hours, serving to bolster short-term UNI sentiment. How a lot larger can this bounce go?

The pessimistic long-term view

On the 1-week chart, the significance of $4 as a assist was made abundantly clear. This stage had been defended from June 2022 to January 2026.

Since then, the DEX’s governance token value slipped under this assist and retested it twice as resistance. The newest Uniswap value transfer right down to a swing low of $2.316, made in early June, highlighted the bearish long-term bias.

A set of Fibonacci retracement ranges was plotted utilizing this transfer downward. The present bounce was working throughout the bearish swing construction. Although the RSI managed to cross over above impartial 50, the OBV was unable to strategy the highs made in mid-June.

This indicated short-term upward momentum however a scarcity of sustained shopping for stress amidst a longer-term bear development.

Merchants’ name to action- Promote the bounce

The liquidation map confirmed a bigger cumulative quick liquidation leverage piled up overhead, as much as $3.52. With just a few clusters of high-leverage quick positions, the value transfer towards $3.5 appeared extra doubtless within the short-term primarily based on the chart above.

If Bitcoin [BTC] doesn’t see a swift sell-off within the coming days, there’s a probability of a UNI bounce towards $3.5.

Merchants can use such a bounce to promote the token, though a transfer to the 78.6% retracement stage at $3.77 can’t be dominated out. Total, swing merchants can preserve their bearish bias until the $4.17 swing excessive is damaged.

Last Abstract

• The Robinhood-Uniswap collaboration announcement, alongside a wave of respite throughout the broader crypto market, has made room for a UNI rally.
• The long-term Uniswap value development was severely bearish, and the present bounce was solely a minor transfer inside this downtrend.